RE: Oh Dear....RNS14 Jan 2022 09:47
Incorrect read RNS - £2.8m + additional £6.35 + £5m secured today
As of 12 January 2022, the Company's unaudited cash position was £2.8 million. The Company has accumulated a substantial debtor and the Company continues to pursue this debtor for monies due under contract. The Company has been seeking funding from a number of different sources and has now signed a non-binding term sheet with a number of its institutional shareholders to provide £6.35 million of capital (with an additional £5 million which may be provided by mutual consent) to finance the Company over the coming months as it proceeds through to the outcome of the ongoing FSP.